Edgeview Partners is pleased to announce the sale of Ideal Image Development, Inc., a leading provider of laser hair removal services in the United States, to Steiner Leisure Limited (Nasdaq:STNR), a worldwide provider of spa services.  Edgeview Partners served as the exclusive financial advisor to Ideal Image Development, Inc. and its majority shareholder, Miami-based H.I.G. Capital, LLC.

Steiner Leisure acquired Ideal Image for $175 million on November 1^st, following public announcement of the transaction on October 19^th.

Based in Tampa, FL, Ideal Image has provided more than two million treatments since 2001 and is uniquely positioned as the only national provider focused exclusively on laser hair removal.  The Company operates a nationwide network of 71 treatment centers across 22 states, delivering a branded medical experience in a convenient upscale retail setting.

Dr. Joe Acebal, who, along with Dr. Rick Mikles, is co-chief executive of Ideal Image, stated, “We are very excited about the outcome of this transaction.  Edgeview did an outstanding job ensuring the Ideal Image team was fully prepared at every stage of the process.  Edgeview’s deep expertise and hands-on approach allowed our management team to remain focused on running our business during this important phase in Ideal Image’s growth.”  Edgeview’s transaction team included Ted Garner, John Tye, Tripp Griffin, Paul Habenicht and Chad Hooper.

H.I.G. Capital (www.higcapital.com) is a leading global private equity investment firm with more than $8.5 billion of equity capital under management.  Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential.  The firm’s current portfolio includes more than 50 companies with combined revenues in excess of $8 billion.

Steiner Leisure Limited is a worldwide provider and innovator in the fields of beauty, wellness and education.  Steiner’s services include traditional and alternative massage, body and skin treatment options, fitness, acupuncture, herbal medicine and medi-spa treatments.  Steiner’s distribution channels include shipboard and land-based spas and salons, destination spas, health clubs, department stores and third party retail outlets and distributors.  The company also sells its products on certain British Airways flights, on QVC, by catalog, and online through its websites, including www.timetospa.com and www.blissworld.com.  Steiner’s post-secondary schools offer programs in massage therapy and skin care, among others, and, along with recruiting and training operations, prepare spa professionals for careers in the health and wellness industry, including within the Steiner family of companies.  The company’s cruise line operations are conducted in spas onboard 155 ships, while land-based spa operations are carried out under our Elemis®, Mandara®, Chavana®, Bliss® and Remède® brands and take place in 70 locations, including resort spas, urban hotel spas and day spas. In addition, a total of 28 resort and hotel spas are operated under Steiner brands by third parties pursuant to license agreements with the company.

Edgeview Partners (www.edgeview.com) is a leading independent investment bank focused exclusively on the middle market.  Edgeview has closed M&A transactions in more than 15 industry sectors, including aerospace and defense, applied technology, building products, business services, consumer products, diversified industrials, energy services, healthcare, and transportation and logistics.

All securities products and services are offered through Edgeview Capital Securities, LLC, a registered broker-dealer and FINRA/SIPC member firm and an affiliate of Edgeview Partners.